Citigroup boss Vikram Pandit resigns


Citigroup chief executive Vikram Pandit has surprised Wall Street by resigning with immediate effect.

Mr Pandit is being replaced by Michael Corbat, who was previously the bank's chief for Europe, the Middle East and Africa.

In a statement, Citigroup praised Mr Pandit for his "leadership, integrity and resilience in guiding Citi through the crisis".

Ben Thompson reports from New York.

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.